Canada fintech startup, Mylo Financial Technologies (Mylo) recently announced it has officially rebranded to Moka Financial Technologies. Launched in 2017, Moka is on a mission to help its users achieve their financial goals through its savings and investing app.
“The Moka app automatically rounds up your everyday purchases and invests the spare change, which makes it possible for everyone to start investing with no minimum investment, lifestyle change or financial knowledge required.”
Since launching Moka’s app has been downloaded by 750,000 Canadians. The company itself has raised $14 million in funding from NAventures, the venture capital division of National Bank of Canada, and Desjardins Capital, the venture capital arm of North America’s largest association of credit unions
Speaking about the company’s rebranding, Founder and CEO of Moka, Philip Barrar, stated:
“Our name and visual identity have changed, but we’re still passionate about helping you achieve your financial goals. Moka, like Mylo, exists because of the people who use our app, because of you. In fact, we’re working on some innovative new features that will help you reduce expenses, pay down debt and save more when you spend.”
Barrar then added that he and his team are developing new products powered by AI and human expertise that will reduce expenses, accelerate debt repayment, provide financial coaching, and deliver valuable cashback rewards.
